The year ahead
It’s time to look ahead and consider what’s coming in 2021. By Tim James.
“All I want for Christmas is 2021” was a clever header to an email received today at the MRC.
There’s no doubt we all look forward to concluding the year 2020. It has been a long, extraordinary and uncertain year. And a time of enormous change.
As this year draws to a welcome close, it’s timely and valuable to look ahead to 2021 and consider the events, circumstances, challenges and opportunities of the new year.
Of course 2020 has taught us that we never truly know what is around the corner, but let’s take a look at what we do know of the year coming.
January will bring a series of changes to laws including:
Major reforms to Australia’s foreign investment laws described as the most significant changes since 1975 tightening thresholds, triggers and processes;
Financial sector reform to implement the Government’s response to the 20 recommendations of the Hayne Royal Commission;
Consumer credit reforms including extending the best interests duty upon mortgage brokers (and others to follow);
Tightening immigration laws to allow more visas to be cancelled on biosecurity grounds, among other changes.
The Government's media regulatory reform review continues into 2021 with some media obligations shifting from 1 January 2021 and submissions due 7 March 2021.
As is now well known, 20 January is Inauguration Day in the US and Joe Biden will take the oath of office.
By 26 February the Royal Commission into Aged Care is to deliver its final report. Given the significant statements and commitments that flowed from the interim report, as outlined in Watercooler, the final report will be very significant indeed.
Western Australians go to the polls on 13 March in what will be a challenging contest for new Liberal leader Zak Kirkup. At the same time, as Caroline Di Russo wrote recently for Watercooler, his fresh approach will shake up Labor and deliver a contest.
In March the JobKeeper payment is scheduled to cease as well as the supplement to those on JobSeeker in what is essentially a return to regular programs. Let us hope conditions across the country make a return to more normal government, programs and policies possible.
Also in March submissions close for consultation on the NSW government's proposed stamp duty reforms.
Around mid-year an outcome is expected in the High Court’s consideration of casual employees following an appeal in the decision of WorkPac v Rossato. WorkPac has submitted that the Rossato decision could apply to more than a million employees, across many sectors, and would alter the legal classification of employment from casual to permanent, at a $14 billion cost to the economy. It’s a very significant decision for the future of Australian business.
2021 will see many major events from 2020 finally held – at least we hope and expect as much. This includes the Tokyo Olympics due to commence in July.
On 1 July 2021, the long-legislated increase to mandatory superannuation contributions from 9.5% to 10% applies, though there’s no lack of debate on this step amidst current conditions for business and the economy.
August 7 is noteworthy for being the earliest date at which a Federal election could be called and 10 August is the date on which the 2021 Census is due to be conducted, hopefully more successfully than that of 2016.
October will see general elections in Japan and Germany and will bring to a close the career of the longest serving leader in Europe, that of German Chancellor Angela Merkel.
In November the UN Climate Change Conference rescheduled from November 2020 will be held in Glasgow. Australia will be able to point to many positive achievements and commitments, the likes of which many other countries talk to but find it so difficult to deliver.
Also by November 1 the Select Committee on Mental Health and Suicide Prevention is due to have handed down its final report – one of the most significant committee reports of the coming year.
Throughout the year ahead, there will naturally be great focus on service sectors so affected by COVID-19 including aviation, tourism and international education.
For the MRC it is hoped we can return to a more normal year of events and commitments in 2021. We’ve outlined strong policy commitments to focus on resilient agriculture, truth and transparency in respect of environmental organisations, contestability of service provision in government and further work in energy and class action litigation policy reform, to mention a few areas.
We are very excited about the commencement of the Robert Menzies Institute in Melbourne and the publication of God and Menzies – the first book about the faith that shaped Australia’s greatest statesman.
We look forward to the year ahead with optimism and resolve to make it our best year yet. May it be so for our nation and all its people.